September 8, Vienna, Austria - The
OPEC Fund for International Development today signed a US$10 million loan
agreement with the Republic of Mali in aid of a road rehabilitation project
in the south of the country. The project will back a government initiative
to provide Mali's Kayes region with a major bridge and better road transport,
bringing a host of benefits to the local population.
As a landlocked country, Mali relies
heavily on its road network to facilitate the transportation of agricultural
goods, which make up the bulk of exports. However, from a nationwide network
of some 17,000 km, barely one-quarter of the roads are in an acceptable
condition. Kayes, the project region, is rich in mineral and agricultural
resources, but potential is currently constrained due to the poor roads.
The route earmarked for rehabilitation is the 150-km Kayes-Diamou-Baoulabé Road , large sections of which are prone to flooding and impassable during the rainy season. Upgrading works will include road widening, bituminous surfacing of the realigned road, construction of concrete drainage culverts, major drainage works at river crossings and the building of a major bridge over the Senegal River at Bafoulabé. The bridge will replace the ferries used at present for crossing the river.
On completion, the project is expected to improve national and international traffic, enhancing economic exchange between the various areas of the country and beyond. In addition, it will offer better job prospects and improved access to social services and administrative centers for the area's population.
The OPEC Fund has previously provided substantial assistance to Mali amounting to almost US$150 million. Earlier operations included balance of payment support, commodity imports programs and a host of projects across a range of sectors. Mali has also been the recipient of debt relief from the Fund within the context of the heavily Indebted Poor Countries (HIPC) Initiative.
Today's agreement was signed in Vienna by H.E. Mr. Louis Marie Joseph Bastide, Ambassador of the Republic of Mali in Geneva, and by H.E. Mr. Jamal Nasser Lootah, Chairman of the Governing Board of the OPEC Fund.